Saudi Arabia Accounts for 35% of Global Barley Trade
Saudi Arabia Accounts for 35% of Global Barley Trade
Riyadh - QNA
The Kingdom of Saudi Arabia now accounts for 33% to 35% of the total world trade volume for barley, which is 25 million tons, as the Kingdom's total imports of barley ranges between 7 and 8 million tons per year.
Saudi Arabia's state grain buyer, the Saudi Grains Organization (SAGO) announced buying 1.5 million tons of animal feed barley in a tender, its second such purchase since it assumed responsibility for the process in October. The purchase is divided into 25 cargoes for shipment from March to May, SAGO said.
Higher imports quantities increases the proportion of acquisitions in the global market, therefore, Saudi Arabia controls the barley trade in the global market as long as it acquires such share in the global trade volume, SAGO Governor Ahmed Al Fares said in statements to the Saudi newspaper "Aleqtisadiah" on Tuesday.
Al Fares explained that 1.2 million tons would be distributed between Saudi Arabia's Red Sea ports and 300,000 tons will be shipped to the Gulf ports. The origins were Australia, South America, the European Union and the Black Sea.
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